North Kingstown RI Real Estate Report February 2015

North Kingstown RI Real Estate Report February 2015

This is the North Kingstown RI single family housing market update for February 2015 provided by Ginny Lacey Gorman of RI coastal real estate. Two months into the New Year and the snowy winter is making its mark on everything. Considering the amount of snowfalls happening, it is amazing that so many home buyers are out purchasing a North Kingstown home…but they are!

Year to date Home sale numbers through February 2015 as compared to January-February 2014 are up by +9 % and average home values are up by 8%. This kind of activity in the thick of winter bodes well for the spring home market. Sellers you need to make preparations now for your listing.

In this southern RI coastal town it is about the community, life style, schools, Wickford Village, Narragansett Bay and great real estate that draws home buyers here. North Kingstown is nearly in the center of RI which makes commuting to Providence or south an added bonus to all who live here.

The month of February 2015 North Kingstown real estate data is as follows:

Properties currently active on the market: 154 (-1% decrease over prior month)

Single-family properties closed: 16(-16% less than prior month)

Average sales price: $ 340,000 ( -5% over prior month)

Median sales price: $ 263,000 ( -30% over prior month)

Sales price to list price ratio: 94% ( same as last month)

Average days on the market: 172 ( +91% increase over prior month)

Sales currently pending: 30 ( 25% increase over prior month)

North Kingstown home absorption rate for the month is 9.6 months of home inventory (a normal market is 5-7 months of inventory and considered a balanced market). The home inventory has decreased a bit but not enough to make it more balanced.Yet home buyers are stating to me that they are finding it difficult to find move in ready home that are priced to buy.

Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the current home inventory.

Breakdown of the 16North Kingstown sold homes is as follows for the month: 9 homes sold under $300,000, 5 homes sold between $300,000-$400,000, 1 home sold over $400,000 and 1 home sold for over $1 million. The under $300,000 market remains a strong selling market in home sales right now.

Successful Video Aerial Marketing increases home sales in North Kingstown- it is about setting your home apart and garnering the most buyers…discover why my state of the art video marketing sells homes with higher prices for all my RI clients. Presenting the home from the air or what is the best ‘eye candy’ in a home is what my marketing is all about for home sellers.

The North Kingstown RI home market is a viable and an active real estate market. Know the secret sauce to pricing your home to get it sold today! Pricing, timing, condition and location of the home are spot on keys to a sellers success here.

Real estate values have risen here which indicates a stronger North Kingstown real estate market in 2015. These are facts and figures every seller needs to know.

Current homes under $500,000 on the North Kingstown market are as follows:

Looking for homes over $500,000? Find them here:

Finding the most knowledgeable information for this town when you are home buying or selling is essential. Talk with me about North Kingstown real estate and what you need to know in this market. Protecting and representing my home sellers and buyers is my constant mantra in RI real estate. Call me today to set up an appointment at 401.529.7849 or email me at ginny@RiHouseHunt.com.

North Kingstown RI Real Estate Report February 2015

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I would love the opportunity to help you market and sell your home for the right price and earn your trust. I am a totally ‘hands on’ top selling North Kingstown and southern RI coastal and luxury real estate agent leaving no home unturned for my RI buyers and sellers! Contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at ginny@RiHouseHunt.com.

Working with home sellers everyday to list, promote and market homes successfully for clients. I live, work and play in North Kingstown and know this town like the back of my hand.

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Attention Sellers!

Before you plan to sell your home understand the right selling price for your RI real estate is the best price buyers will pay for it. I will give you a comprehensive market analysis of current sold, pending and active properties in your market area. Just enter your information here for a quick response.

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Understand that Rhode Island's housing market differs from the rest of the country and is very town and neighborhood specific. I look forward to hearing from you!